Traders are bullish on ETH as price begins to catch up with the tech

Summary of “Traders are bullish on ETH as price begins to catch up with the tech” Ethereum (ETH) is experiencing a surge in optimism as its price shows signs of breaking a three-year slump, with an 89% bullish sentiment among the community. The ETH price has risen over 20% in the past week, driven by technical signals, network upgrades like the Pectra release, and record Ethereum ETF inflows. Prominent traders like Cas Abbé and Arthur Hayes express confidence in ETH’s upward trajectory, with Abbé predicting Ethereum’s market dominance could exceed 20% by Q3’s end. Some analysts project ETH could reach $10,000–$15,000 this cycle, a 3–4x increase from its previous high of $4,900 in November 2021. Despite past struggles, including a drop below $2,000 in early 2024 and competition from Layer-1 rivals like Solana, Ethereum’s technical breakout and institutional interest signal a potential comeback. However, volatility and competitive pressures remain risks. Show Less